Update HP settlement

Zeist, Netherlands - Following the public announcement of the settlement between Court-appointed Lead Plaintiff PGGM Vermogensbeheer B.V. (“PGGM”) and Hewlett-Packard Company (“HP”) resolving the federal securities class-action lawsuit arising out of HP’s acquisition of Autonomy Corporation plc (“Autonomy”), statements were made in various media outlets suggesting that the settlement was an indicator of the merits of the action and of culpability by HP. These statements were inaccurate and do not reflect the views of PGGM.


HP has always denied the allegations in the Complaint as they pertain to HP and has consistently maintained that it was defrauded by Autonomy’s senior management. PGGM recognizes that the parties’ decision to settle this matter is not, and should not be interpreted as, an admission by either party of any wrongdoing, or the correctness of any claim, or defense alleged in the action. Indeed, while PGGM continues to believe in the merits of the action, it recognizes that HP continues to deny all claims and contentions alleged by PGGM, as well as all charges of wrongdoing or liability against it arising out of or related to its acquisition of Autonomy.